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Beneficial Ownership Reporting Requirement Back On; Deadline Extended 30 Days (FinCEN Notice FIN-2025-CTA1)
The Financial Crimes Enforcement Network (FinCEN) has announced that the mandatory beneficial ownership information (BOI) reporting requirement under the Corporate Transparency Act (CTA) is back in ef...

IRS Issues Guidance on Alternative Method for Health Coverage Reporting (Notice 2025-15)
The IRS has issued Notice 2025-15, providing guidance on an alternative method for furnishing health coverage statements under Code Secs. 6055 and 6056. This method allows insurers and applicable ...

Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued (Rev. Proc. 2025-16)
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2025 and the lease inclusion amounts for business vehicles first leased in 2025....

Senate Finance Committee Leadership Issue Proposals To Improve IRS
The leadership of the Senate Finance Committee have issued a discussion draft of bipartisan legislative proposals to make administrative and procedural improvements to the Internal Revenue Service....

LLC Not Entitled to Charitable Contribution Deduction for Conservation Easement; Accuracy-Related Penalty Imposed (Green Valley Investors, LLC, TCM)
A limited liability company (LLC) classified as a TEFRA partnership could not claim a charitable contribution deduction for a conservation easement because the easement deed failed to comply with the ...

IRS Appeals Officers and Team Managers not U.S. Officers; Not Appointed Under Appointments Clause (C.C. Tooke III, TC)
The Tax Court ruled that IRS Appeals Officers and Team Managers were not "Officers of the United States." Therefore, they did not need to be appointed under the Appointments Clause....